Most listings are in the $60's per square foot per year. The Theater District submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the New York City market, the Theater District region has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 156 listings have been listed, so you'll want to check back regularly for new listings. About 21% of the listings in the Theater District are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 4,120 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are around 23 stories. Most buildings in this market were built in 1930 and are Class A.
Arts, entertainment, and restaurants are the dominant industries in this market. Most of the folk of Theater District work from home. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.